AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) CFO James Caci sold 216,000 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $3,285,360.00. Following the completion of the sale, the chief financial officer owned 213,030 shares of the company's stock, valued at approximately $3,240,186.30. This represents a 50.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
AvePoint Stock Down 1.4%
AVPT traded down $0.22 during trading on Tuesday, reaching $15.53. The company had a trading volume of 504,859 shares, compared to its average volume of 1,351,552. The stock has a market cap of $3.29 billion, a P/E ratio of -310.34 and a beta of 1.40. The business has a 50 day simple moving average of $16.65 and a 200-day simple moving average of $16.83. AvePoint, Inc. has a 52 week low of $11.43 and a 52 week high of $20.25.
Hedge Funds Weigh In On AvePoint
Several institutional investors have recently made changes to their positions in AVPT. Heck Capital Advisors LLC purchased a new position in shares of AvePoint during the fourth quarter valued at $29,000. Versant Capital Management Inc purchased a new position in shares of AvePoint during the first quarter valued at $31,000. Summit Securities Group LLC increased its stake in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock valued at $38,000 after buying an additional 2,263 shares during the period. Advisors Asset Management Inc. increased its stake in shares of AvePoint by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock valued at $44,000 after buying an additional 919 shares during the period. Finally, Quarry LP grew its stake in AvePoint by 2,028.3% in the first quarter. Quarry LP now owns 3,831 shares of the company's stock valued at $55,000 after purchasing an additional 3,651 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Citigroup reduced their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. B. Riley initiated coverage on AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price on the stock. Jefferies Financial Group initiated coverage on AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 target price on the stock. Finally, DA Davidson initiated coverage on AvePoint in a research note on Monday. They issued a "buy" rating and a $20.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.67.
Check Out Our Latest Stock Report on AVPT
About AvePoint
(
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AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.
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